This one number is really bad news for Donald Trump in 2020
Donald Trump’s re-election hinges on the economic boom he’s presided over.
It is always the number one issue for voters.
But this one number is really bad news for Donald Trump in 2020.
More economists are predicting America will enter a recession next year.
The odds now reach 35 percent in surveys.
And that would spell doom for Donald Trump’s re-election prospects.
The likelihood of a U.S. recession in the next 12 months rose to 35% in an August survey of economists, from 31% forecast previously, as global trade tensions fuel economic uncertainty.
Growth in the world’s biggest economy will average 2.3% this year, down from 2.5% seen in a July survey. Gross domestic product expansion is forecast to slow to a 1.8% annualized pace in the third quarter, from 3.1% in the first three months of the year and 2.1% in the second quarter.
“Trade tensions are needlessly roiling financial markets, which could eventually destabilize a stable economy,” Parul Jain, chief investment strategist at Macrofin Analytics LLC in Wayne, New Jersey, said in comments attached to her survey response.
President Donald Trump last week announced new tariffs on imported Chinese goods, to take effect on Sept. 1, causing steep declines in global stock markets. The S&P 500 index of U.S. stocks has fallen more than 3% since July 31. That was the day the Federal Reserve cut interest rates for the first time since 2008, to a range of 2% to 2.25%, in a bid to support the economy.
Recession appears to be the goal of the secretive Federal Reserve.
Fed central bankers manipulate the money supply and interest rates to send the economy into boom or bust cycles.
And the Fed could be pulling the strings of the economy to trigger a recession to get rid of Donald Trump in 2020.